Almost 1 in 3 Bank Tellers Need Public Assistance

AND THAT’S COSTING TAXPAYERS ALMOST $900 MILLION A YEAR

(NEWSER) – You probably don’t think of bank tellers the same way you think about, say, the fast food workersprotesting today, but they, too, have ample reason to complain about their wages, a new report suggests. Nearly a third of tellers are on some form of public assistance, according to a UC Berkeley/Committee for Better Banksstudy. Taxpayers spend $899 million each year helping tellers get by, the report concludes.

Banks made more than $141.3 billion in profit last year, and had a median executive pay of around $552,000—compared to $24,100, or $11.59 per hour for tellers, theWashington Post reports. But Jay Jenkins at the Motley Fool points out that median pay for all workers isn’t much better, at a mere $14.93 an hour. “The root of the problem is not about banks,” he argues, “it’s about the structure of the US economy and the quality of jobs available to the workforce.”

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About Brian Fulmer

Brian is the owner of Crossroads Property Management Inc. (www.crossroadsproperty.com) He writes six blogs and has written two books. He also works with various missions around the world. His first love is Guatemala.